CLO uptick seen positive for CMBS; Gagfah eyes new issue

A new German multifamily housing securitisation planned by real estate investor Gagfah, coupled with the reopening of Europe’s collateralised loan obligation market, points to strong investor demand away from typical core securitisations, officials in London say.

28 Mar 2013

Gagfah wants to partly refinance a chunky 2.1bn ($2.68bn) loan securitised in its German Residential Funding 2006-1 commercial mortgage securitisation with six new tranched loans backed by German residential properties. One of these, a 708.8m five year facility, is already earmarked for a commercial mortgage-backed securities deal, Gagfah
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